Bondora saw originations rise for the seventh consecutive month in July to reach €11.8m (£10.1m).
The European peer-to-peer lending platform said that originations grew by 7.1 per cent over June, driven by a rise in Finnish originations while Estonian originations fell slightly.
Finnish originations rose by 24.3 per cent month-on-month to reach €4.2m. This accounted for 35.5 per cent of all Bondora originations in the month, compared to 30.6 per cent last month.
The interest rate on Estonian AA-rated originations increased from 11.3 per cent to 11.4 per cent. AA-rated loans reached €1.1m in July, up 105.7 per cent, bringing the total share of such originations from 4.9 per cent to 9.4 per cent.
Similarly, A-rated Estonian originations grew by 66.1 per cent on the month.
These increases came at the expense of lower-rated Estonian originations, which declined across B-, C-, D-, and E-rated loans. F-rated originations were 218.5 per cent higher.
For the third consecutive month, the average loan amount for Estonian originations were lower for the third consecutive month, down by 1.3 per cent to an average of €2,708 in July.
Meanwhile, Finnish originations rose by 4.5 per cent to €2,547 last month.
Estonian originations averaged 56 months for the second consecutive month in a row while Finnish originations were also consistent with last month, with an average 55-month duration.
Read more: Bondora boosts loan recoveries
“July was another month of growth for loan originations on the Bondora platform,” Bondora said in a blog on its website.
“This month’s 7.1 per cent origination growth rate put July’s total at €11,818,925. This was led by AA-rated Estonian originations that jumped by 105.7 per cent, and A-rated originations, which also had a strong growth rate of 66.1 per cent.”